Business

Vietjet shakes hands with Military Bank

Released at: 12:11, 03/12/2015

Two sign cooperative agreement on credit and other banking services.

by Doanh Doanh

Vietjet Air and Military Bank (MB) reached a cooperative agreement on December 2 where MB will provide the carrier with a short-term credit of VND500 billion ($88.5 million) to add to its working capital and be disbursed for the prepayment of aircraft.

“We are very happy about our partnership, which will lead to more cooperation in the future between Vietjet and Military Bank,” said Mr. Luu Trung Thai, MB’s Vice Chairman. “Together we will offer consumers more convenient and comfortable services in the future.”

The bank will also provide Vietjet with a long-term credit to be spent on one or two new aircraft from Airbus, together with other mutually beneficial banking services.

The two agreed to collaborate in offering a new market approach that can optimize Vietjet’s booking system and MB’s MB Plus service.

Vietjet is currently expanding its network within Vietnam and connecting to other destinations in the region, with its continually developing fleet of modern aircraft. “One of the airline’s priorities is offering passengers high quality aviation services,” said Managing Director Luu Duc Khanh. “Vietjet is dedicated to innovating and developing our services.”

The airline recently secured IOSA Certification from the International Air Transport Association (IATA) after just three years of operations. It was also declared “Best Asian Low Cost Carrier” at the TTG Travel Awards 2015, which compiles votes from travelers, travel agencies, and tour operators in Asia. The airline was also rated as one of the top three fastest-growing airline brands on Facebook in the world by Socialbakers.

The airline boasts a fleet of 29 aircraft, including A320s and A321s, and operates 190 flights each day. It has already opened 38 routes in Vietnam and across the region to international destinations such as Thailand, Singapore, South Korea, Taiwan, China, and Myanmar, carrying more than 18 million passengers to date.